Submission of Orders; Right to Reject Orders. (a) Minimum Offering; Minimum Investment. Until such time as the Company has received and accepted subscriptions for the minimum offering (as described in the Prospectus) and released the proceeds from such subscriptions from the Escrow Account, those persons who purchase Shares will be instructed by Selected Broker-Dealer to make their instruments of payment payable to or for the benefit of “UMB Bank, N.A., as Escrow Agent for Terra Income Fund 6, Inc.”, except that investors residing in jurisdictions requiring higher minimum offering amounts will continue to be instructed to make their instruments of payment payable to or for the benefit of “UMB Bank, N.A., as Escrow Agent for Terra Income Fund 6, Inc.” until the Company has received subscriptions for the applicable minimum offering amount. Thereafter, those persons who purchase Shares will be instructed by Selected Broker-Dealer to make their instruments of payment payable to or for the benefit of “Terra Income Fund 6, Inc.” Subject to certain individual state requirements and except for shares issued pursuant to the DRIP, Shares may be sold only to investors who initially purchase a minimum of 500 Shares for $5,000, subject to certain state requirements as described in the Prospectus. With respect to Selected Broker-Dealer’s participation in any resales or transfers of the Shares, Selected Broker-Dealer agrees to comply with any applicable requirements set forth in Section 2 and to fulfill the obligations pursuant to FINRA Rule 2310. Terra Capital Markets, LLC Selected Broker-Dealer Agreement 5
Appears in 2 contracts
Sources: Dealer Manager Agreement (Terra Income Fund 6, Inc.), Dealer Manager Agreement (Terra Income Fund 6, Inc.)
Submission of Orders; Right to Reject Orders. (a) Minimum Offering; Minimum Investment. Until such time as the Company has received and accepted subscriptions for the minimum offering (as described in the Prospectus) and released the proceeds from such subscriptions from the Escrow Account, those persons who purchase Shares will be instructed by Selected Broker-Dealer to make their instruments of payment payable to or for the benefit of “UMB Bank, N.A., as Escrow Agent for Terra Income Fund 6, Inc.”, except that investors residing in jurisdictions requiring higher minimum offering amounts will continue to be instructed to make their instruments of payment payable to or for the benefit of “UMB Bank, N.A., as Escrow Agent for Terra Income Fund 6, Inc.” until the Company has received subscriptions for the applicable minimum offering amount. Thereafter, those persons who purchase Shares will be instructed by Selected Broker-Dealer to make their instruments of payment payable to or for the benefit of “Terra Income Fund 6, Inc.” Subject to certain individual state requirements and except for shares issued pursuant to the DRIP, Shares may be sold only to investors who initially purchase a minimum of 500 Shares for $5,000, subject to certain state requirements as described in the Prospectus. With respect to Selected Broker-Dealer’s participation in any resales or transfers of the Shares, Selected Broker-Dealer agrees to comply with any applicable requirements set forth in Section 2 and to fulfill the obligations pursuant to FINRA Rule 2310. Terra Capital Markets, LLC Selected Broker-Dealer Agreement 5
Appears in 1 contract
Sources: Dealer Manager Agreement (Terra Income Fund 6, Inc.)